Those Who Prepared Are Now Thriving

2020-04

Those Who Prepared Are Now Thriving

Mortgage companies with pre-pandemic tech investments have had fewer disruptions

The COVID-19 pandemic has caused massive disruption for industries across the world. The mortgage industry is no exception. Amid widespread concern among consumers, businesses and communities, the U.S. economy experienced a massive slowdown. This made
homeowners and potential homebuyers wary, resulting in many stepping away from the mortgage market.

How Intelligent Automation Is Changing the Mortgage Industry

Businesses across most domains are constantly trying to reduce operating costs. One way to do this is by introducing intelligent automation. Intelligent Automation contributes immensely to taking repetitive, mundane tasks that humans would typically do and applying machine learning technology to automate them.

Why Technology Plays a Key Role in Title Production

In a volatile mortgage market, changing interest rates and compliance scenarios coupled with the global pandemic have all meant that mortgage lenders are dealing with constant change.

Moreover, record-low mortgage rates in 2020 have been luring buyers. The Mortgage Bankers Association (MBA) has projected mortgage originations to total about $2.61 trillion this year, a 20.3% gain from last year’s volume. Refinance originations are also expected to double earlier MBA projections, increasing 36.7% to around $1.23 trillion.

Riding the Refinance Wave - Understanding the Millennial Mindset

Amidst the Covid-19 outbreak, while new home purchases are taking a hit, refinance requirements are going through the roof. In the recent past, mortgage companies have been experiencing stiff competition from other mortgage companies. But a bigger challenge has been the rise of fintech companies that is significantly impacting mortgage lenders. In the US, the market share of online mortgage lenders has quadrupled over the past six years.

Agility: A Key Attribute for Mortgage Lenders in a Volatile Market

2020-28

Agility: A Key Attribute for Mortgage Lenders in a Volatile Market

For any mortgage lender operating in a volatile market, agility is a key attribute.

This is especially true in the current scenario: demand for refinances, as well as new purchases, has been up and down for weeks now, as per the Mortgage Bankers Association’s Weekly Applications Survey.

Having a robust partner relationship plays a crucial role in enabling such agility.

Medair selects Visionet Deutschland GmbH as global IT partner

2020-17

Medair selects Visionet Deutschland GmbH as global IT partner

September 17th, 2020 – Technology consulting and services company Visionet Deutschland GmbH (VSD), a wholly-owned subsidiary of US-based global IT services provider Visionet Systems, Inc., has been selected by Swiss-based international humanitarian organization Medair as their global IT partner. Visionet will drive Medair’s transformation in streamlining human resources, logistics, and financial management.

How Mortgage Lenders can Benefit by Partnering withoviding Expert Technology Solutions Vendors Pr

The mortgage industry works in a paper-intensive environment. On average, there are more than 25 types of documents for the retail mortgage loan origination process, over 15 in correspondent lending, and over 10 in mortgage servicing rights. Dealing with such a large number of documents in huge volumes manually is a cumbersome process and is prone to errors.